Chargebacks
A chargeback (also: chargeback) is the cancellation of a credit card payment to a customer. Chargebacks are initiated by the card company or bank as a result of a dispute with the cardholder as part of customer protection programs. They protect customers from fraudulent payments. In the event of a claim, the buyer will receive full compensation.
Meanings of Chargebacks
Application by a credit card issuer to a retailer for damages resulting from a fraudulent or disputed transaction.
